Thursday's Currency trade

Since you are reading my blog and it is New Year, I will share with you a trading secret. 'Go short when market is trending down'. Happy, eh? :-)

OK, back to business. I was thinking to start trading next week. However, the nice setup in EUR/JPY was just seductive. Yeah, seductive. I went short during early London session, and my profit target was hit early. I was looking at EUR/JPY to lose ground to 160. It might go lower, but...I don't care. +85 pips to start the year.

Another option is to sell partial of your position and let the rest run. Well, up to you.

Here is the ...... CHART!

Comments

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Tom2008-01-03 11:31:00 UTC

Nice to see that you got some profit out of that one, I was holding long and got beat up! :) Such is life!

Gav2008-01-03 11:43:00 UTC
Yeah, I read about your EUR/JPY trade. Ouch... But, who knows? maybe I am just looking at a smaller picture than you do :-)

Tom2008-01-03 11:31:47 UTC

Nice to see that you got some profit out of that one, I was holding long and got beat up! :) Such is life!

Gav2008-01-03 11:43:45 UTC
Yeah, I read about your EUR/JPY trade. Ouch... But, who knows? maybe I am just looking at a smaller picture than you do :-)

john2008-01-05 23:55:00 UTC

short when the markets going down! absolutely genius have a great new year tradergav

Gav2008-01-06 00:10:00 UTC
Thanks John. I see you are doing pretty well at MtM. Have a great 2008!

john2008-01-05 23:55:24 UTC

short when the markets going down! absolutely genius have a great new year tradergav

Gav2008-01-06 00:10:53 UTC
Thanks John. I see you are doing pretty well at MtM. Have a great 2008!

Thursday's Currency trade

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